UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~April~~ June 711, 2009

155 East Tropicana, LLC

155 East Tropicana Finance Corp.

(Exact name of registrant as specified in its charter)

Nevada Nevada	333-124924 333-124924	20-1363044 20-2546581
Nevada	333-124924	20-1363044
Nevada	333-124924	20-2546581
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)
115 East Tropicana Avenue, Las Vegas, NV		89109
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (702) 597-6076

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 8 –— Other Events

Item 8.01 Other Events.

OnAs previously reported, on April 7, 2009, 155 East Tropicana, LLC (the “Company”) received a Notice of Default and Reservation of Rights letter ~~(the “Default Letter”)~~ from the Agent (as defined below) with respect to that certain ~~credit~~Credit ~~agreement~~Facility, dated as of March 29, 2005, as amended, (the “Credit Facility”) by and among the lenders identified on the signature pages thereof (the “Lenders”), Wells Fargo Foothill, Inc. (the “Agent”; and together with the Lenders, the “Lender Group”), as the arranger and administrative agent for the Lenders, and the Company and each of the Company’s subsidiaries identified on the signature pages thereof (such subsidiaries, together with the Company, are referred to as the “Borrowers”).

~~The~~Also ~~Default Letter states that (i) an event of default exists under the Credit Facility~~ as apreviously ~~result~~reported, of the ~~Borrowers’~~ ~~failure~~Company towas ~~obtain~~notified ~~control agreements for one or more deposit accounts established and maintained~~ by the ~~Borrowers,~~lender that (iii) aspursuant ato ~~result of~~ the ~~event~~terms of ~~default,~~ the Credit ~~Lender~~Facility, ~~Group~~the isCompany ~~under~~ no ~~further~~longer ~~obligation~~has tothe ~~extend~~option ~~further~~of ~~credit~~paying ~~under~~ the ~~Credit~~LIBOR interest ~~Facility~~rate, ~~(iii) the~~but ~~Lender~~must ~~Group~~instead ~~continues~~pay tothe ~~evaluate~~Wells ~~its response~~Fargo toprime ~~the~~rate ~~event~~and (ii) as of ~~default~~May 1, ~~and~~2009 ~~(iv)~~ the rate of interest under the Credit Facility will ~~not~~ be increased atto ~~this~~the ~~time. The~~default ~~Lenders~~rate, ~~did~~which ~~not~~is ~~elect~~equal to ~~accelerate~~two ~~the~~percentage points above ~~indebtedness~~the per annum rate otherwise applicable under the Credit Facility.

AsOn ~~reported~~June 11, in2009, the Company’s ~~Form 10-K filed~~received onan ~~March 31,~~additional ~~2009,~~Notice ~~all~~of Default and Reservation of Rights letter (the ~~funds~~“June Letter”) ~~available~~from the Agent. The June Letter states that additional events of default have occurred under the Credit Facility as a result of the Borrowers’ failure to (i) make ~~were~~certain ~~outstanding~~representations asin connection with the delivery of ~~March~~financial statements for the periods ending January 331, 2009., February 28, 2009, March 31, ~~The~~2009 ~~Company~~and April 30, 2009 and (ii) make the ~~Lender~~scheduled ~~Group~~interest ~~are~~payment due inon ~~active~~April 1, ~~discussions~~2009 ~~regarding~~under the ~~terms~~ ofCompany’s asenior ~~forbearance~~secured ~~agreement. There can~~notes bewithin nothe grace ~~assurance,~~period ~~however,~~provided ~~that~~under ~~such~~the anindenture ~~agreement~~governing ~~will~~the ~~be reached~~notes.

2The June Letter states further that as a result of the events of default, the Lender Group is under no obligation to extend further credit under the Credit Facility and the Lender Group continues to evaluate its response to the events of default.

~~SIGNATURES~~As reported in the Company’s Form 10-K filed on March 31, 2009, all of the funds available under the Credit Facility were outstanding as of March 3, 2009. The Company and the Lender Group are in active discussions regarding the terms of a forbearance agreement. There can be no assurance; however, that such an agreement will be reached.

~~Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~2

	155 EAST TROPICANA, LLC
	(Registrant)
	By:	/s/Deborah J. Pierce
Date: April 13, 2009		Deborah J. Pierce
	Its:	Chief Financial Officer

SIGNATURES

3Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	155 EAST TROPICANA, LLC
	(Registrant)


	By:	/s/ Deborah J. Pierce
Date: June 17, 2009		Deborah J. Pierce
	Its:	Chief Financial Officer

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